Cement News tagged under: corporate
UBS cuts Buzzi Unicem’s EBIDTA estimates on weak European markets18 July 2012, Published under Cement NewsUBS has cut Buzzi’s 2012 EBITDA projections by three per cent and now expects it to remain flat for the year at EUR424m as lower European demand weighs on the Italian cement major’s performance. The new EBITDA estimates are in line with the group‘s guidance and eight per cent lower than the consensus estimate of EUR460m. The broker has also has cut its recommendation on Buzzi Unicem to “sell” from “neutral” saying that cement demand in Europe has deteriorated significantly. Although ... |
Taiheiyo could surpass FY13 earnings outlook, Japan18 July 2012, Published under Cement NewsTaiheiyo Cement’s president Shuji Fukuda has said the company’s earnings forecast for fiscal 2013 that was released in May could be on the conservative side as earthquake reconstruction efforts drive up cement demand. The report in the Nikkei said that rebuilding work has raised expectations that Taiheiyo’s earnings could exceed its earlier outlook, prompting shares in the company to rise on Tuesday. "Last year's disaster has raised awareness of disaster management and infrastructure s... |
Hail Cement widens loss, Saudi Arabia18 July 2012, Published under Cement NewsSaudi Arabia-based cement company Hail Cement has increased its losses in the second quarter of 2012 to US$2.29m, up by 36 per cent from the US$1.68m it lost in the first quarter. The loss is attributed to the pre-operating stage it is currently undergoing with operations due to begin in the first quarter of 2013. For the first six months of this year, the company’s net loss was US$3.97m. (Source: Middle East North Africa Financial Network). |
Cementos Portland Valderrivas extends credit line, Spain18 July 2012, Published under Cement NewsCementos Portland Valderrivas has reached an agreement with its creditors to extend by end-July the maturity of a EUR-340m credit line, due to expire yesterday. The company has intention to refund its debt standing at EUR1.4bn. (Source: Cinco Días) |
Daiwa cuts Shanshui Cement, China18 July 2012, Published under Cement NewsDaiwa Research has lowered its price target for China Shanshui Cement to HK$4.2 from HK$8.7 and downgraded its stock from ‘outperform’ to ‘buy.’ Shanshui has revised down its target by 15 per cent to 55Mt. With more cement coming from Hebei Province, Daiwa sees downside risks for prices and a likelihood of more and longer production cuts in Shandong and Liaoning. It noted that Shanshui has already prepared for 1-2 more cuts of 20-30 days each in Shandong and believes Shanshui will sacr... |
Fujian Cement to report CNY85-88m 1H net loss, China17 July 2012, Published under Cement NewsFujian Cement Inc said it will suffer an CNY85-88m (US$13m-13.8m) net loss in the first half of 2012, compared with a net profit of CNY91.75m a year earlier, China Business Newswire reports. Fujian Cement is based in the Fujian province, situated in the southeast China on the coast of the East China Sea. |
Deutsche Bank cuts Shanshui Cement forecast, China17 July 2012, Published under Cement NewsShanshui Cement has lowered its 2012 sales target for blended cement and clinker to 55Mt from 65Mt mainly due declining sales in Shandong, Deutsche Bank reported. The bank has cut its forecast for Shanshui’s average selling price in the second half of 2012 by five per cent. It has also cut Shanshui’s earnings forecast for 2012 and 2013 by 29 per cent and 17 per cent, respectively. (Source: AAStocks Financial News) |
Macquarie lowers TCC Int’l price target, Taiwan17 July 2012, Published under Cement NewsInvestment bank Macquarie has lowered its target price for Taiwan Cement Company (TCC) International to HK$2.4 from HK$4.2, and maintained its "outperform" rating. The house cut its earnings forecasts by 43 and 37 per cent for 2012/13 to reflect lower sales volume and lower-than-expected cement prices. TCC issued profit warning on 4 July, indicating that profits would decline more than 50 per cent YoY. Macquarie said this is not a surprise, as it has been expecting a 72 per cent YoY earnin... |
Steppe Cement first-half sales edge ahead, Kazakhstan16 July 2012, Published under Cement NewsKazakhstan-based cement producer Steppe Cement has reported a rise in cement sales for the first half of 2012 and sees domestic demand increasing by low double-digits for the full year. For the six months to June 2012, Steppe Cement sold 615,838t, a rise of two per cent compared to the same period of last year. Sales revenue during the period rose 23 per cent to KZT7728m (US51m). The average price for the current period for delivered cement, exculding VAT, was KZT12,549/t (US$84) compa... |
Saudi Cement net profit rises 26 per cent, Saudi Arabia16 July 2012, Published under Cement NewsSaudi Cement posted a net profit of SAR290.2m (US$77.4m) for the second quarter, representing a rise of 36 per cent from a year earlier. The company attributed the rise to growing demand for cement and clinker as the domestic construction sector is boosted by increased government spending. |